ArcBest's stock hits 52-week low despite beating earnings estimates, facing analyst downgrades.

Wells Fargo lowered ArcBest's price target to $96.00, maintaining an "equal weight" rating. Despite this, ArcBest's earnings per share for the latest quarter were $1.33, beating the consensus estimate. The company's stock faced downgrades from several analysts, leading to a consensus "Hold" rating with an average price target of $119.82. Morgan Stanley's price target was reduced to $145.00, still with an "overweight" rating. Institutional investors have adjusted their holdings, with some increasing their positions. ArcBest's stock hit a new 52-week low during mid-day trading, closing at $95.61.

2 months ago
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